Jefferies Group Brokers Reduce Earnings Estimates for Codexis, Inc. (NASDAQ:CDXS)
Codexis, Inc. (NASDAQ:CDXS) – Research analysts at Jefferies Group decreased their Q4 2017 earnings per share estimates for Codexis in a report issued on Thursday. Jefferies Group analyst B. Couillard now anticipates that the biotechnology company will post earnings per share of $0.07 for the quarter, down from their previous forecast of $0.10. Jefferies Group has a “Buy” rating and a $8.00 price target on the stock. Jefferies Group also issued estimates for Codexis’ Q4 2018 earnings at $0.20 EPS.
Codexis (NASDAQ:CDXS) last released its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.13). The business had revenue of $10.30 million during the quarter, compared to the consensus estimate of $9.61 million. Codexis had a negative return on equity of 98.28% and a negative net margin of 40.70%. The business’s revenue was down 35.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.12 EPS. COPYRIGHT VIOLATION WARNING: “Jefferies Group Brokers Reduce Earnings Estimates for Codexis, Inc. (NASDAQ:CDXS)” was originally published by Daily Political and is owned by of Daily Political. If you are viewing this story on another site, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this story can be accessed at https://www.dailypolitical.com/2017/08/11/jefferies-group-brokers-reduce-earnings-estimates-for-codexis-inc-nasdaqcdxs.html.
CDXS has been the subject of several other research reports. BidaskClub cut Codexis from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. ValuEngine raised Codexis from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. HC Wainwright set a $8.00 target price on Codexis and gave the company a “buy” rating in a research note on Thursday, May 11th. Finally, Zacks Investment Research raised Codexis from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Codexis presently has a consensus rating of “Hold” and a consensus price target of $6.80.
Codexis (NASDAQ CDXS) traded down 2.80% on Friday, hitting $5.20. The stock had a trading volume of 67,310 shares. The company’s market cap is $214.53 million. Codexis has a one year low of $3.60 and a one year high of $5.70. The stock has a 50-day moving average of $5.34 and a 200-day moving average of $4.72.
Large investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its stake in shares of Codexis by 2.9% in the first quarter. Bank of America Corp DE now owns 25,477 shares of the biotechnology company’s stock valued at $122,000 after buying an additional 717 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Codexis by 1.1% in the first quarter. TIAA CREF Investment Management LLC now owns 102,294 shares of the biotechnology company’s stock valued at $491,000 after buying an additional 1,099 shares in the last quarter. Nationwide Fund Advisors increased its stake in shares of Codexis by 15.7% in the second quarter. Nationwide Fund Advisors now owns 21,568 shares of the biotechnology company’s stock valued at $118,000 after buying an additional 2,928 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Codexis by 10.0% in the fourth quarter. Teachers Advisors LLC now owns 58,017 shares of the biotechnology company’s stock valued at $267,000 after buying an additional 5,264 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Codexis by 23.3% in the second quarter. Rhumbline Advisers now owns 42,872 shares of the biotechnology company’s stock valued at $234,000 after buying an additional 8,095 shares in the last quarter. 54.90% of the stock is owned by institutional investors and hedge funds.
Codexis Company Profile
Codexis, Inc is a developer of biocatalysts for the pharmaceutical and fine chemicals markets. The Company’s CodeEvolver protein engineering technology platform, which introduces genetic mutations into genes in order to give rise to changes in the enzymes that they produce, overcomes many of the limitations, allowing customers to evolve and optimize biocatalysts to perform specific and desired chemical reactions at commercial scale.
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